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Presidential aide on IMF, EC deals: One cannot live on loans only

de V.O.
Luni, 26 aprilie 2010, 15:23 English | Top News

The IMF and the European Commission may demand Romanian authorities to take supplementary measures to bring down the budget deficit, presidential aide Leonard Orban said in an interview for "How much can one borrow? One cannot live on loans only. Eventually one will ask himself: when will I give the money back?", Orban said.

He said the solution was to limit spending so that the budget deficit targets are complied with and other loans are avoided.

He said he believed Romania is far from meeting the criteria to join the euro zone and that the 2015 target in this regard was harder to achieve.

An IMF mission would visit Romania between April 27-May 7 for the quarterly evaluation of the funding program. Following the IMF evaluation, Romania may receive a fifth installment of the stand-by accord, amounting to 850 million euro, in June, should it meet the terms set in this regard.

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